Linamar (TSE:LNR) Shares Pass Above 200-Day Moving Average – Here’s Why

Linamar Co. (TSE:LNR)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$91.77 and traded as high as C$101.84. Linamar shares last traded at C$99.89, with a volume of 123,114 shares traded.

Wall Street Analysts Forecast Growth

LNR has been the subject of several research reports. TD upped their target price on Linamar from C$116.00 to C$119.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Linamar from C$110.00 to C$115.00 in a report on Tuesday. Raymond James Financial upped their price objective on shares of Linamar from C$90.00 to C$100.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. Scotiabank reduced their target price on shares of Linamar from C$99.00 to C$96.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. Finally, Scotia increased their target price on shares of Linamar from C$96.00 to C$99.00 and gave the company a “sector perform” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$103.29.

Linamar Price Performance

The company has a market capitalization of C$6.13 billion, a PE ratio of 9.85, a PEG ratio of 1.12 and a beta of 1.72. The firm has a fifty day moving average of C$99.86 and a two-hundred day moving average of C$91.89. The company has a current ratio of 1.50, a quick ratio of 0.75 and a debt-to-equity ratio of 35.07.

Linamar (TSE:LNR) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$3.28 earnings per share (EPS) for the quarter. Linamar had a return on equity of 10.37% and a net margin of 5.90%.The business had revenue of C$2.94 billion for the quarter. Research analysts anticipate that Linamar Co. will post 11.4332724 EPS for the current fiscal year.

Insider Activity

In other news, insider Csaba Havasi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$97.47, for a total value of C$292,410.00. Following the transaction, the insider owned 71,543 shares in the company, valued at approximately C$6,973,296.21. This trade represents a 4.02% decrease in their ownership of the stock. Corporate insiders own 33.49% of the company’s stock.

Linamar Company Profile

Linamar Corp is a diversified global manufacturing company of highly engineered products. The Company’s Industrial segment operates the Skyjack and MacDon brands, It manufactures products for the Aerial Work Platform and Agricultural industries, respectively. The Mobility segment features vertically integrated operations to combine expertise in light metal casting, forging, machining and assembly of components and systems for electric and traditional vehicle applications. In addition, McLaren Engineering and eLIN Product Solutions Group provide design, development, and testing services for the Mobility segment.